Faculty of Business and Law
Deakin University
by John Persico
As a newly minted Deakin graduate and having recently joined KPMG's Corporate Finance practice, I may be considered one of Deakin University's success stories. Modern tertiary institutions have been entrusted with an array of tasks - not least of which is to attract top students and ensure that their transition to the professional world runs as smoothly as possible. Recent government reviews of tertiary educational standars suggest that Australian institutions might have become too preoccupied with the second part of this equation. But at the grass roots level, the bulk of undergraduate students lack the time or inclination to grapple with such high ended questions of whether educational standards have been eroded by their educational institution. They have composed an even simpler equation. They want graduate jobs. The same students seem non plussed about the prospect of being "commodified" during the transition stage between high school and the workforce. Provided the undergraduate student gets value-for-PELS and serviceable dosages of status, power, travel, recognition, influence and prosperity upon graduation - the transaction seems reasonable and well worth a punt. But there may be a bit more to this graduate equation than meets the eye.
University choice
Arguably the most difficult decision for VCE students is whether their choice of University impacts their likelihood of success in the graduate marketplace. Within Victoria, the ordinal pecking order for high achieving Commerce bound students is Melbourne University, Monash University and Deakin University. Deakin currently delivers Australia's premier on line teaching facilities and recently joined the elite ranks of Australian Universities to boast is own medical school. In addition, cross institutional Commerce students have often found Deakin staff to be more approachable and friendly than their counterparts. Deakin encourages its students to undertake combined degrees and entices them to pursue international University exchange programs. It's worth examining why Deakin's dualist strategy has proven so successful in recent graduate placements.
Double degrees
The necessity and desirability of double degree qualifications is often questioned by aspiring University students. Having graduated from a six year Bachelor of Commerce (Hons)/Laws (Hons) degree, my experiences suggest that the graduate market looked most favourably on students with broader skill sets, particularly those with Honours degrees. Australia's premier and most lucrative employers-of-choice - including banks, consultancies and profesional services firms - have each raised the academic prerequisites in the ultra-competitive race to the bottom of the graduate pool. The decision making process is rather mercenary. HR consultants need all the help they can get as they cull from 800 applications, grant 40 interviews and make 7 graduate offers. The increasing number of Deakin graduates with double degrees who have managed to penetrate top tier graduate programs suggests the strategyis working well. The Australian position contrasts greatly with our overseas counterparts, especially European and American students. They often attend University until their mid-20s and Masters qualifications are deemed to be commonplace.
Study abroad
I found the opportunity to study abroad to be priceless, the opportunity to learn a foreign language, sampling different cuisine and sojourning across Europe affording a plethora of life changing opportunities. Students learn quickly that Australia - an island in the middle of the Pacific Ocean which is inhabited with only 20 million people - is not exactly representative of the world's population. Deakin University has been at the forefront of Australia's globalising education revolution for some time. I believe it's just a matter of time until international exchange programs will be made a condition precedent for graduation within leading Australian Universities.
The "X-factor"
A favourite question on the lips of eager students at bi-annual Careers Fairs is whether any other resume building achievements can help "guarantee" graduate success. Every graduate employer-of-choice is looking to attract the attention of students who exhibit that special "X-factor" - albeit extra-curricular interests, work ethics, presentation skills, technical excellence, leadership, problem solving and teamwork capabilities. Employers widely acknowledge that high achieving extra-curricular students possess many transferable qualities that are valuable to their workplace. Buzz words like "balance", "trust" and "accountability" are well ensconced in the commercial vernacular. Whether it involves enjoying a brew with Australian University Games teams, mooting in Vienna or joining the DUSA Society - these relationship building skills are fun and essential.
Word of Caution
There are several potentially perilous pitfalls that can be avoided by undergraduate students. The first is that all graduates have experienced moments when the odd morally reprehensible colleague has felt the need to embellish their own successes or talents on their CV. These antics prove to be self defeating and short sighted. Graduate recruiters interview thousands of applicants each year and have a sixth sense for weeding out dishonest candidates. Even if these students can circumvent the graduate recruitment processes, they surely would become unstuck when their employer demands 2am finishes each month until a lucrative deal is secured. Perhaps the best advice is for students to apply for positions that are compatible with their competencies, interests, personality and personal values. The second pitfall involves the growing tendency among bright and gifted students to focus soley on their studies and conspicuously ignoring the importance of practical work experience. Aside from penultimate year internships, paid or unpaid relevant work is surest means of securing plenty of graduate interviews. The third tip is that undergraduate students should not be hesitant to make contact with the Deakin Commerce Alumni. It's often the case that a 5 minute phone conversation with an IBM graduate is more insightful than hours of misdirected research and stress. And lastly, do not be afraid to share your experiences and interests with on campus charitable organisations, like World Vision and Nexus Foundation. Volunteering not only builds resumes - it builds character and integrity.
As a graduate
I have been afforded many special opportunities and challenges over the past few months in the KPMG Private Equity team. The technical skills and theoretical concepts I learnt in my Economiocs and Finance studies are tested rigorously and intensely each day. Much of the Private Equity work manages to combine the dynamic nature of investment banking with the strategic-orientation of management consulting. As such, the workplace is interactive, fast moving and ever changing - even more than I had anticipated as a Deakin student. Since the majority of the mandates are either speculative, specialised and/or large scale, our Private Equity team is close knit and reliability is most important. Every ambitious graduate craves for some limited hands on responsibility and client exposure. I am fortunate to have managers with outstanding leadership qualities who have actively involved me from deal origination to execution and encourage me to demonstrate extensive commercial acumen, entrepreneurial flair and presentation skills. KPMG also recognises that training and continued development is crucial. I have been actively encouraged to pursue my CA/CFA postgraduate studies and I will attend a 4-week Gloval Corporate Finance training course in Scotland in late 2007.
If you are a member of the Deakin Commerce Alumni Chapter and are interested in listing your profile on this page, please contact us on commerce-alumni@deakin.edu.au
